RCN Founder’s Blank-Check Firm For Digital Media Acquisitions; To Raise $125 Million


The blank check companies are beginning to appear in the digital media sector: now a heavyweight, RCN founder David McCourt, has filed with SEC to create a publicly traded company, Granahan McCourt Acquisition, that will raise $125 million from investors to buy controlling stakes in companies that make or distribute media and communications services…The venture will be his 11th in 25 years. The SEC filing for IPO is here.
The firm’s board of directors includes former CIA director George Tenet, former ESPN chief Roger Werner and Starwood Hotels and Resorts founder Barry Sternlicht.
The firm was the lead investor in UK-based online video aggregator and tech firm Narrowstep.
McCourt wrote an editorial in FT last month, about his view on the video market..reposted on his firm’s site here.

Comments are closed.